Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Ukraine
Consumer price inflation in Ukraine averaged 14.6% in the ten years to 2024, in line with the CIS Countries regional average of 7.9%. The 2024 average figure was 6.5%. For more information on inflation, visit our dedicated page.
Ukraine Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Ukraine from 2014 to 2024.
Source: Macrobond.
Ukraine Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.7 | 9.3 | 20.1 | 13.4 | 6.5 |
| Inflation (CPI, ann. var. %, eop) | 5.0 | 10.0 | 26.6 | 5.1 | 12.0 |
| Inflation (PPI, ann. var. %, eop) | -1.6 | 40.8 | 47.3 | 24.2 | 19.7 |
Inflation falls for the first time in 15 months in June
Latest reading: Inflation eased to 14.3% in June from May’s 15.9%, marking a four-month low and the first decrease in price pressures since March 2024. The moderation was due to the lowest increase in price pressures for housing and utilities in over three years. Still, June’s headline figure remained above the Central Bank’s 5.0% target and was higher than the Bank had expected due to weather-related disruptions to agricultural supply fueling price growth for food. Price pressures also strengthened in the hospitality and transport sectors. Annual average inflation rose to 11.7% in June from 10.9% in May. Meanwhile, core inflation ticked down to 12.1% in June (May: 12.3%). Finally, consumer prices increased 0.80% in June month on month, decelerating from May’s 1.30% rise.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Ukrainian inflation projections for the next ten years from a panel of 29 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Ukrainian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Ukrainian inflation projections.
Want to get access to the full dataset of Ukrainian inflation forecasts? Send an email to info@focus-economics.com.
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